Who has hand me down gift accounts?

Discussion in 'Commodity Futures' started by milehigh_trader, Nov 20, 2007.

  1. My great grandpappy was a monster ag trader a long time ago. He always believed in long positions. He was one of the originals in the vanguard group in chi-town

    He willed into my family a long wheat position that I am soon to inheret. I am very profitable trading equities and oil, but I know nothing about agriculture. My system doesn't seem to work becaue I don't understand weather and smog and planting seasons. All i know about ags are how I cut the onion to make dinner.

    Should I sell this thing? hold it? where is a good place to learn more info. This position has been rolled over and traded around, but stayed net short, for as long as my current dad can remember.

  2. If your good at doing something else with a track record, why not cash it out and use that money to do what you know? Rather than learn something new (not that that is a bad thing) and potentially make mistakes along the way?

    That is what I would do.
  3. how come grand papa did not teach u his tricks?
  4. He died a long time ago and the position was willed to my family and has been managed by a fund over the years. I am the first person since then to actually trade.
  5. Depends. Is it rolled into a new crop or old crop position? Regardless I would dump it anyway cause wheat doesn't have much going for it right now. Use it to increase the size of your own account if you are already trading profitably.
  6. Right now it is sitting in March '08 futures. I guess maybe I'll start exiting the position, but the market looks so thin it will take my days to get out :(

    I'll leave maybe 25% on and leave that under fund managment since I don't know what I'm doing, but it is a good idea to take my profits over to my other account!

    Ridin' the dragon!
  7. BJL


    every day over a couple billion dollars worth of wheat are traded and you figure it'll take you days to get out of your position?

    wow, wish i had your problem.
  8. I haven't watched it trade, but the market looks pretty thin (lots of 1-15 contracts bid everywhere). I don't want to just randomly sell everything, I like to work it and keep it in a price range.